JAKARTA (TheInsiderStories) – PT Nusantara Infrastructure Tbk (IDX:META) plans to allocate around US$400 million to invest in Indonesia’s toll road infrastructure projects in 2018-2019, taking part in the government’s drive to develop various infrastructure projects in the country. The announcement was revealed by the company following the entry of new shareholder in the company, Metro Pacific Investments Corporation (MPIC).
Muhammad Ramdani Basri, Chief Executive Officer of the company told reporters that this plan is part of Nusantara Infrastructure commitment as the private sector to actively contribute in accelerating the infrastructure development in Indonesia, without relying on State Budget.
”We have gained the trust from the strategic partner, to jointly develop and accelerate the infrastructure growth in Indonesia through this investment partnership,” he said during “Investment Partnership” event at Indonesia Infrastructure Week on Wednesday (8/11).
He added, Nusantara Infrastructure is aware about the importance of private sector participation in infrastructure development, thus the company has decided to seek for a new breakthrough by introducing a business model which is capable of attracting strategic partner, especially foreign investors.
Late last week (Nov 3), through its subsidiary, MPIC indirectly acquired 6.6 billion shares or equivalent to 43.3 per cent of Nusantara Infrastructure shares from PT Matahari Kapital Indonesia.
The purchase of shares by MPIC is done through PT Metro Pacific Tollways Indonesia, a company indirectly held by Metro Pacific Tollways Corp (MPTC).
The objectives of this strategic partner joint collaboration is to enhance the company values in transforming the potential growth in infrastructure development sectors, especially in tollways, water utility, telecommunication tower, energy, and seaport management, in which Nusantara Infrastructure has been actively involved.
Deden Rochmawaty, the General Manager and Corporate Affairs stated, this Investment Partnership, is one of investment strategies implemented by the company, to create potential revenue growth and profitability in the future. The partnership will also strengthen the company’s financial position to engage in various business expansions.
Since it established, Nusantara Infrastructure has collaborated with various strategic partners in expanding the business such as Cap Asia, Providence Equity, as well as Nexco and Jexway which are among the leading tollway operators in Japan.
The company has once again gained the trust from international strategic partner by demonstrating the performance and the company’s positive outlook to further strengthen its business way into the future, especially in developing infrastructure in Indonesia.
Metro Pacific Tollways Corp is one of Metro Pacific Investment Corporation (MPIC) subsidiaries. MPIC is a leading investment holding company and infrastructure company in the Philippines with a market capitalization of PHP (Philippines Peso) 212.38 billions. MPTC is also one of the leading developer and toll operator in the Philippines which has operated a number of toll road sections.
Written by Elisa Valenta, Email: email@example.com